IPCC Prepares Capital Expenditure Of Up To IDR 200 Billion In 2024

JAKARTA - PT Indonesia Vehicle Terminal Tbk (IPCC) allocates capital expenditures of IDR 150 to IDR 200 billion next year 2024.

IPCC Director of Finance and Human Resources Sumarno said that the capital expenditure will be used by the company to increase the capacity of the terminal parking area and administrative costs.

"Our funding has been prepared. If this year it is around Rp35 billion, next year it will be around Rp150 to Rp200 billion," said Sumarno quoting Antara, Friday, May 26.

Meanwhile, IPCC Director of Operations and Engineering Bagus Dwipoyono conveyed that the company plans to increase the capacity of the parking building in the Tanjung Priok terminal area, Jakarta, in 2024.

He explained that the new parking building will consist of five floors, with an area of 3.8 hectares (ha), and with a capacity of around 2,000 vehicles.

He said the project had started working this year by doing detailed engineering design (DED), and it was targeted that construction could be carried out in early 2024.

In 2023, this subsidiary of PT Pelabuhan Indonesia (Pelindo) allocated a capital expenditure of IDR 35 billion, the majority of which was used to solve the company's legal and administrative problems.

"Actually, Rp35 billion is because we have to take care of several things, especially from a legal point of view, because we have limited land, so later we will build another terminal to park the area," said Bagus.

In the first quarter of 2023, the IPCC posted a profit for the current year of IDR 42.33 billion, or an increase of 20.05 percent year on year (yoy) compared to the same period in 2022.

During the first quarter of 2023, the company posted operating revenues of Rp191.15 billion, an increase of 27.40 percent (yoy) supported by terminal services which increased by 24.99 (yoy) to Rp175.89 billion.

In addition, revenue from the IPCC goods service segment also increased 34.47 percent (yoy) to IDR 10.71 billion.